Cambridge Advisors Inc. increased its position in Nike Inc. (NYSE:NKE) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,104 shares of the footwear maker’s stock after buying an additional 64 shares during the period. Cambridge Advisors Inc.’s holdings in Nike were worth $1,331,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. CapWealth Advisors LLC increased its stake in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the last quarter. Cribstone Capital Management LLC acquired a new stake in Nike during the second quarter worth approximately $106,000. Brick & Kyle Associates increased its stake in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares during the last quarter. Gierl Augustine Investment Management Inc increased its stake in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the last quarter. Finally, CWM LLC increased its stake in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares during the last quarter. 62.04% of the stock is owned by institutional investors.
Shares of Nike Inc. (NYSE:NKE) traded down 2.05% during midday trading on Thursday, reaching $52.16. 16,993,949 shares of the company’s stock were exchanged. The company’s 50 day moving average is $56.63 and its 200-day moving average is $57.26. The stock has a market cap of $87.50 billion, a PE ratio of 24.15 and a beta of 0.52. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.17. The company earned $9.06 billion during the quarter. Nike had a net margin of 11.60% and a return on equity of 30.27%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 EPS. Equities analysts forecast that Nike Inc. will post $2.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be given a $0.16 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Nike’s payout ratio is presently 28.83%.
A number of research firms recently commented on NKE. B. Riley reiterated a “buy” rating and issued a $66.00 target price on shares of Nike in a report on Monday, June 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Nike in a report on Sunday, July 17th. Vetr upgraded shares of Nike from a “sell” rating to a “hold” rating and set a $54.01 target price on the stock in a report on Wednesday, August 3rd. Robert W. Baird reiterated an “outperform” rating and issued a $67.00 target price on shares of Nike in a report on Wednesday. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $52.00 target price on shares of Nike in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.35.
In other Nike news, Director John C. Lechleiter bought 1,000 shares of Nike stock in a transaction dated Friday, July 1st. The stock was bought at an average price of $55.09 per share, with a total value of $55,090.00. Following the completion of the transaction, the director now owns 23,682 shares in the company, valued at approximately $1,304,641.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F. Slusher sold 72,696 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the completion of the sale, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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